Citi Announces New Wallet Product

Citiannounced yesterday the launch of Citi Wallet, the banks implementation ofMasterCard’s MasterPass product. Citi is marketing Citi Wallet as a productdesigned to simplify the e-commerce checkout experience for Citi cardholders.Consumers select the MasterPass payment method, and checkout by logging inusing the credentials associated with their online credit card account,according to a story on Mobile Payments Today.

“As online spending continues to grow, weheard from our card members that they want a faster way to make purchasesonline,” said Barry Rodrigues, Head of Citi Enterprise Payment Solutions. “CitiWallet delivers this by reducing online checkout to just a couple clicks –whether they are purchasing a sweater, flowers or a new tablet.”

Visa alsorecently re-launched the company’s e-commerce checkout product, changing itsname from V.me to Visa Checkout. Click hereto read recent PaymentsJournal coverage.

Overview byMichael Misasi, Senior Analyst, Credit Advisory Services

To read thefull story, go to Mobile Payments Today.